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Free trade advances human race as a whole and raises average standard of living. But it’s important to understand what is at the end of this advance: irrelevanc
by vl 6y ago
Free trade advances human race as a whole and raises average standard of living. But it’s important to understand what is at the end of this advance: irrelevance of labor.
Not only hyper-optimization produces fragile systems (i.e. look at the mask and sanitizer shortages at the most wealthy nation on Earth), it also eventually will make most of the labor uncompetitive.
You can only consume so much on credit, I’m not sure how world will reshape when most of the humans cannot contribute anything of value.
- ejanus 6y agoI don't think this is correct. It favors those with capital and technology. The strong over the weak. And it increases the barrier to enter. Look at Africa(my continent) as an example of where free market leads to collapse of economy.